Skyview Capital to acquire market leading school kit provider with a focus on accelerating growth, innovation and market penetration

Skyview Capital (“Skyview”), a global private investment firm, today announced that it has acquired SchoolKidz.com (“SchoolKidz or the Company”) from Staples, Inc. Terms of the transaction were not disclosed.

SchoolKidz.com provides kitting solutions for elementary and middle-school students through various parent (PTA/PTO), school and charitable organizations. The SchoolKidz Teacher Tailored offering provides school supply kits to over 3,000 schools nationwide.

SchoolKidz also operates KitsforKids.org, a program serving non-profit organizations. Organizations select KitsforKidz to provide essential goods for both educational and humanitarian purposes. During some of the recent natural disasters, SchoolKidz provisioned thousands of kits to those in need.

Following Staples’ acquisition of SchoolKidz.com ten years ago, the Company emerged as a leading provider of school supply kits as well as an innovator in providing kits to non-profit organizations. With financial and operational support from Skvyiew, Schoolkidz.com will continue to build on its position as a market leader.

“We are very pleased to announce the closing of SchoolKidz.com, a technology-enabled market leader in kitting solutions for educational and charity-based organizations nationwide”, said Alex Soltani, Chairman and CEO of Skyview Capital. “Skyview’s deep operational expertise will help modernize and accelerate growth of this new investment. Financial support from Skyview will enable the Company to expand its existing product portfolio as well as gain even greater market share through consolidation of a fragmented industry. We are excited about our partnership with the existing management team and look forward to providing them with the tools necessary to efficiently and aggressively grow this business.”

Rick Bigelow, Senior Vice President at Skyview and Executive Chairman of Schoolkidz.com, said “I am excited about the acquisition of SchoolKidz and look forward to continuing to serve our thousands of PTA/PTO and Charity organizations. We are committed to working with the SchoolKidz team to enhance the Company’s existing capabilities, bolster its leading market position via follow-on acquisitions, and, ultimately, deliver the best in class products to our customers.”

“I am excited to work with Skyview Capital going forward as the President of SchoolKidz, supporting parent and non-profit organizations as we have for nearly two decades,” Jim Mulder, former Executive Director under Staples and current President of Schoolkidz. “Our goal as an organization is to continue to provide the highest quality product and level of service that our customers have become accustomed to, with no disruption to their programs.”

About Skyview Capital, LLC
Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services, and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 25 transactions whereby it has acted as a partner to corporations and other stakeholders experiencing a strategic transition or liquidity event. Visit http://www.skyviewcapital.com.

GrowthCap’s Top 40 Under 40 Growth Investors Of 2017

ALEX SOLTANI

Firm: Skyview Capital

Title: Founder and Chairman

Alex founded Skyview 13 years ago, prior to which he worked at Platinum Equity. Since inception, Skyview has completed over 30 transactions and has exited 13 of its portfolio companies. With a heritage of executing complex corporate carve-outs in the enterprise software and telecom space, Alex has developed significant expertise in driving operational best practices and accelerating growth through strategic add-on acquisitions. For example, Skyview acquired Syncplicity in 2015 at a point when it was burning a significant amount of cash. Within 18 months, Skyview assisted in rightsizing the business, optimizing sales and marketing, and accelerating revenue growth. Skyview successfully sold Syncplicity to Axway in February of 2017. Alex recently launched Skyview Ventures which focuses on earlier stage disruptive technology investments.

“I enjoy working with businesses that we feel have untapped yet significant potential; we like to think of ourselves as a hybrid financial/operational resource that founders, management teams and stakeholders alike can leverage for growth. Although it can be a significant undertaking, there is a deep sense of satisfaction that comes with taking a historically stagnant, mature, or underperforming business and unlocking its true inherent potential. At Skyview, we provide a unique and differentiated solution to large multinational corporations, business owners and any stakeholders who need help realizing value in their business. Many publicly traded companies within the Fortune 2000 community enjoy working with us because of our ability to quickly execute on some very complex corporate carve-outs with minimal disruption to their internal processes, employees and customers. We also work closely with founders and management teams to identify organic growth initiatives by driving operational best practices, while also combing for add-on strategic acquisitions to further accelerate that development.” – Alex Soltani, Skyview Capital

When I sat down with Mark Jancola earlier this month, he was just transitioning to his new role as VP and GM of Apptio’s Digital Fuel business. Mark is well known at Apptio, having built the product engineering team, product offerings, and technical operations necessary to take the company from initial startup to one of the fastest growing enterprise software companies in history.

If you haven’t met this engaging leader, here’s what you need to know.

Mark, what excites you most about the coming together of these two companies, Apptio and Digital Fuel?

My excitement is really driven by our customers and how much MORE value and leverage they will get from this technology business management superpower. I look forward to the new conversations we can have with them.

What I feel most energized by is the idea that we now have two very smart and experienced teams working to offer powerful costing, planning, benchmarking, and insights solutions that engage and delight our customers. This is a meaningful multiplier of TBM knowledge that will be applied to customers and offered to the market.

What makes you uniquely qualified to assume the leadership helm at Digital Fuel?

I think it’s a combination of factors. I grew up with the customer as we introduced and evolved TBM so I bring that experience and knowledge to the table. I also helped build the Apptio product portfolio and know it intimately.

But really, though I have a developer’s background, the unique benefit I bring is that I lead by developing people. And when you bring two companies together, especially two companies that have competed in the past, the ability to connect people and teams, to make them feel welcome, and to encourage and support their high-performance capabilities is key to leadership success.

During times of transition, it’s critical to maintain the focus on what really matters—the customer. Over time, as our teams integrate, strong leadership will keep everyone focused on moving the ship forward.

How has your engineering background prepared you for this role?

The bottom line is that engineers have a very organized thought process and are oriented toward preventing problems. When we encounter challenges, we are supremely focused on deconstructing and solving them in a rational way. And we are very clear and direct when we communicate this information.

Candidly, there are so many different facets of the Digital Fuel product line around which Apptio had made assumptions. And the reverse is also true: there are things that the Digital Fuel team perceived about Apptio that will change as we become more transparent with each other. As the leader of this merging team, I will help identify and deconstruct these things so that we leverage our strengths as we move forward.

How do those two sets of skills, the pragmatic system thinker and the people person, come together to benefit this team?

It’s just experience. I’ve been in the industry for almost 30 years, and I’ve been a part of so many teams. Big and small, from five-person teams to very large groups that span the globe. Experience bringing those folks together to meet common objectives and produce customer-worthy solutions has fused those skills together in a very positive way.

How do you define your leadership style?

My style is all about context. We set goals for what we want to do but without an understanding of how that impacts our team, the business, and the customer, it’s difficult to deliver on those goals. I’m here to make sure the context is clear because knowing where you are and where you want to go is a critical foundation for the actions that we take.

I guess you could say my style is transparency. I’m a great listener and I’m willing to invest the time to really understand the strengths of the team. Why? Because in my experience, this always leads to new ideas, inspiration, and product innovation.

As an organization gets larger, there can be a temptation for the enterprise to tamp down inspiration. How do you keep innovation top of mind?

That’s a true statement. The larger an organization grows, the bigger the chance an “old way/new way” dilemma can develop. Fear of trying something new or doing something differently can limit a team. I have a couple of strategies for minimizing this:

Provide as much autonomy as possible at the team level. To develop leaders in each area of the business, you’ve got to support accountability and encourage leaders to own their areas of expertise. The smaller the team, the more nimble and open to new ideas they can be.

Create safe spaces for new ideas. It’s important to have an ongoing forum where small teams can contribute their ideas in a flat operating model. In other words, you don’t want ideas that just flow up the management chain and get sifted out. Instead, it’s important to let ideas come out around a table, where everyone can evaluate them.

That’s the crux of it. People need to feel they can experiment and try new things, so that sense of autonomy needs to be embedded in the culture. The teams I’ve led at Apptio are all composed of six people or less—designed to operate independently yet maintain a federation to achieve large-scale outcomes.

We also encourage “hackathon” events to allow people to take time out of their regular schedules to explore new ideas.

What do you think will be the biggest game-changer for technology teams in the next few years?

Self-modifying software. Software technology is evolving fast—so fast that soon it will be common for code to modify itself or generate new code on the fly based on real-time inputs and analysis. We’re seeing the front end of this with the AI/machine learning phenomena.

Here are the things I believe will enhance our offerings over the next few years:

Machine learning. Everyone’s working to understand AI and strategic automation that better leverages data and provides insights to customers. A great (hypothetical) example might be the correlation between dynamic provisioning of cloud compute in a financial services company and a rise in interest rates. Machine learning helps us understand the relationship between IT spend and business impact.

Smarter analytics. Establishing a positive feedback loop allows you to continually evaluate what people do with your software and work to provide new levers to improve products and processes. This constantly inspires changes to what you do and how you do it.

Agile processes. Agile development has really changed the way products and services are delivered. At its core, agile is about breaking down work into small chunks so that you can prioritize and deliver more nimbly. This change has been profound, and now we’re trying to solve the “transparency” challenge of aligning the delivery of incremental value to long-range goals. How can you be sure you are on track to meet an annual objective during each two-week sprint cycle? We want to help customers adapt to these changes and excel at their jobs in this new paradigm.

Customer focus. Understanding how customers use products and extract value from them continually shapes the game, providing ongoing pressure to evolve and be better at what you do. The more you know about the customer and the processes that are running their businesses, the better positioned you are to leverage technology advances to provide solutions that really address their goals and objectives.

What is the primary advantage of the Digital Fuel acquisition for the marketplace?

Whenever you combine two like-minded teams that are considered best in the field, it raises the bar for everyone. That’s what we’ve done here. Think about what outstanding advances a team with this level of depth and skill can bring to the TBM market. What you will see is even more innovation and expanded capabilities for customers.

How do Apptio and Digital Fuel’s product offerings complement each other?

Digital Fuel brings Service Level Management capability to the Apptio market, which has some natural synergies with Apptio Vendor Insights. We are excited to explore the opportunity to enhance this product offering.

For IT costing, Digital Fuel has innovated some exciting ways to get data into the system and we look forward to bringing that to customers. In turn, Apptio brings unparalleled expertise in data modeling to Digital Fuel customers.

There are many opportunities to leverage each other’s strengths as we unify our functional capabilities and innovate in new directions.

Tell us something about yourself that isn’t on your resume.

You might not know that for many years, I was a competitive road cyclist, participating in races throughout the Pacific NW and even across the U.S. I once trained for a week in Spain with Tour de France winner Stephen Roche. That was a phenomenal experience and something I will never forget.

I still ride but today I’m more into wakeboarding. In the summer, I spend as much time wakeboarding as my schedule will allow. In fact, we have an Apptio club that meets on the dock at 6am in the summertime to do a couple of runs before we head to work. It’s a great way to start the day.

My “not-so-secret” secret is that I am a family guy at heart. Although two of my three kids (twins!) are about to graduate from college, the “Dad” hat is always the one I’m going to choose first. I’m game for any activity with my kids, anytime, anywhere.

The Secure Transaction Cloud (STC) virtualized payment transaction solution is demonstrated at NewNet’s Booth at GSMA Mobile World Congress. The demo will be featured on Spire Payments’ Point of Sale (POS), Smartphones, Tablets and Laptop based transactions conducting mobile and Internet payments.

To ensure seamless migration from legacy infrastructures, NewNet’s STC provides a carrier grade payment solution with a comprehensive set of features and benefits:

High security

Faster completion of transactions

Scalability with rapid creation of additional instances

Assured performance

Economic deployment with pay per use models

Reliability for seamless continuous usage of critical functions

“NewNet’s STC solution enables Mobile Network Operators and Cloud Service Providers with one of the most innovative and advanced payment applications available on the market today. Migration from legacy infrastructures is seamless, we are able to exceed payment security requirements while at the same time realize it significant cost savings.” said Devarajan Puthupparambil, Head of NewNet’s Secure Transactions Division. “This new delivery platform from NewNet presents the MNOs and CSPs with a powerful solution to generate new revenues from the ever expanding mobile and internet payment segments”.

NewNet’s team of experts will be on hand at GSMA Mobile World Congress (Booth #8.1K61) to explain the features of the Secure Transaction Cloud (STC), show demos and discuss successful implementations. To arrange an onsite meeting, please email Devarajan.puthupparambil@newnet.com

LOS ANGELES, CALIFORNIA, UNITED STATES, August 1, 2017 /EINPresswire.com/ — Skyview Ventures is excited to announce its investment in the A-Round of Buy It Installed, Inc. This software-enabled-services company has invented a process that fully automates the integration of installation services throughout the supply chain, enabling online retailers to dynamically connect consumers with qualified installers. For consumers, the Buy It Installed solution means simple, “one-click” access to professional installation services: Consumers simply push a button and get the products they are buying installed. For retailers, the Buy It Installed button means an enhanced consumer experience that leads to exponential sales growth. A large percentage of consumers are ready to make an online purchase, but they are turned off by the need to separately find an installer. By packaging the online order with installation, the Buy It Installed button dramatically increases the close rate on transactions. This helps retailers increase both sales and customer satisfaction, while reducing product returns.

The investment in Buy It Installed will be used to further develop the service platform, recruit additional team members, and harness the existing large customer demand. Skyview Ventures is investing in this round alongside Tech Coast Angels, the ACE Fund, and families core to the venerable Crosspoint Venture Partners.

Skyview Capital Ventures has relevant experience in the Mobile, Software as a Service, Cloud-based customer support, and eCommerce segments through previous investments in NewPace, Headsprout, Mimio, LSSiData, Kangarootime and Syncplicity.

Alex Soltani, Skyview Capital’s CEO, says “Skyview Ventures has had great success helping disruptive companies in the software and E-commerce sectors. E-commerce has become a major sales channel globally and providing coordinated installations is a logical next step. Buy It Installed has a great team, and this additional capital will help them scale into a major player in this E-commerce logistics space.”

Todd Banhidy, Buy It Installed’s founder, says, “We are very excited to have Skyview Ventures participate in this round. Skyview brings relevant technical and operating experience, and a great camaraderie as the first institutional investors in this round.”

Matt Thompson, Skyview Capital Ventures Senior Vice President says, “We are looking forward to partner with Todd Banhidy and the Buy It Installed team. We see a huge market in finishing the eCommerce last foot’ of completing the assembly and installation of the items. There are so many times when I choose not to purchase an item because I don’t know who will install it. We expect Buy It Installed to define this market segment which is at the intersection of eCommerce, Artificial Intelligence, big data, and mobility.”

About Skyview Ventures
Skyview Ventures is a wholly owned division of Skyview Capital LLC. Skyview Ventures partners with entrepreneurs in Southern California who are developing disruptive technologies. Skyview Ventures invests in early stage businesses, where the team can leverage industry experience and its vast relationships. Current areas of focus include Digital Media, IoT, Augmented and Virtual Reality, Telecom and Software, Social Media, Fintech, HealthTech and Biotech. Skyview Ventures is based in Los Angeles, California. www.skyviewcapital.com/ventures

About Skyview Capital, LLC
Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed more than 25 transactions within its target market verticals. Visit www.skyviewcapital.com.

About Buy It Installed, Inc.
Buy It Installed™ is a button integrated into a retailer’s e-commerce site which enables a consumer to buy their product with manufacturer certified service nationwide. Having automated the complex human system that is installed sales, they are the first to successfully serve large retailers at a massive scale. More information on the Irvine, CA based Buy It Installed, Inc. can be found at www.buyitinstalled.com

Samsung has announced that the company is expanding its Rich Communications Services (RCS) with its recently-acquired NewNet Communication Technologies RCS arm. The South Korean company has said that its RCS service is a complete end-to-end solution that includes an interconnectivity hub among operators and a third-party monetization platform.

The company says that its RCS cloud service will allow mobile network operators to quickly launch the service and “avoid the costly and time-consuming efforts of building their own network infrastructure,” in its press release. As per Samsung, its RCS hub will support and simplify the interconnectivity between itself, RCS-enabled operators, and third-party RCS clouds to allow for the same service ubiquity for users as SMS and MMS.

“Samsung’s RCS solution is compliant with the latest GSMA RCS specifications. As a standards-based solution, it will be a true messaging evolution post SMS/MMS, making it possible to achieve a global footprint very quickly,” the company said in its release.

The company is currently working with several network provider partners including Deutsche Telekom, KT, SK Telecom, T-Mobile, and Vodafone to improve the availability of the RCS messaging. “To suit each partner’s specific needs, the solution is offered not only as a full packaged partnership but also in a variety of modular options. More partners are expected to join in the near future,” it said.

As per the company, its RCS solution will be supported by the Samsung smartphones running Android 6.0 Marshmallow or later. “The GSMA aligned the mobile industry behind a single, Universal Profile for advanced RCS messaging and we have already seen a number of significant operator launches,” Alex Sinclair, Chief Technology Officer at GSMA, was quoted as saying.

Since Samsung’s service is using the same Universal Profile as Google’s Jibe service is, presumably users on both platforms will be communicate with each other once the services are implemented fully, points out Android Police.

Google recently announced that the company has partnered with 27 carriers and device manufacturers available worldwide, who have now launched RCS (Rich Communications Services) for Android users with the search giant.

Digital Fuel is the leader in the rapidly growing IT Business Management (ITBM) sector, which provides software solutions that help CIOs, IT Managers, and Finance Managers oversee IT spending and budgets. ITBM provides IT leaders with capabilities to manage their costs and services while also demonstrating the value provided.

During the IQPC IT Financial Management Conference and in their show booth, Digital Fuel has announced several growth initiatives. The initiatives include:

Aggressive Hiring — Digital Fuel has hired additional Product and Sales staff including Brett Arnott, Director of Product Marketing and Management. Brett had previously worked in the Digital Fuel unit at VMware. Brett says of his new role, “I’m very excited to join the new Digital Fuel. I see a lot of opportunities to service Fortune-1000 and SMBs with their IT Business Management needs.” Digital Fuel is also actively hiring additional Sales professionals to ramp up customer growth.

New Logo and Branding — Digital Fuel commissioned a new logo that has been deployed on digitalfuel.com and on social media.

New Software release in fourth quarter 2016 — The new release will include improved usability, new branding, enhanced pdf export capabilities, and upgraded reporting.

Inorganic Growth. Digital Fuel is also evaluating acquisition opportunities to add new capabilities and adjacent technologies.

Since acquisition, Digital Fuel has brought on several key team members. Rick Bigelow has joined as Chief Operating Officer and General Manager. Rick was previously CEO of Skyview Capital Portfolio Companies Mimio LLC and Integrated Microwave Technologies.

Digital Fuel has emerged as an industry leader in the ITBM sector, selling to blue-chip enterprise customers across multiple end markets including Financial Services, Government, Education, and Healthcare. The business has helped customers optimize their IT spend and realize significant cost savings, while being more responsive to internal customer needs. Digital Fuel provides Cost Transparency, Service Level Management, and IT Benchmarking modules. Digital Fuel sells software licenses, SaaS subscriptions, and professional services to Fortune-1000 enterprises globally. Digital Fuel provides the granularity and accuracy which other systems lack. This level of detail allows enterprises to reliably perform customer chargebacks, budgeting & planning, accurate cost optimization insights, and robust IT Financial management activities.

“We are excited to grow the features and functionality of the Digital Fuel product suite. We are aggressively targeting new use cases for our software to help our customer base meet their financial and IT goals” said Rick Bigelow, chief operating officer and general manager of Digital Fuel.

“Digital Fuel will be releasing exciting new usability and modularization features over the coming quarters addressing key needs in the market segment, and further positioning us as the technology leader in the space” said Jason Nienaber, SVP of sales and marketing at Digital Fuel. “We are seeing strong demand from our Service Integrator and Reseller partners, including a significant interest from new channels who want to be part of our strategy to scale globally with regional focus. There is a growing need for our solution in the Enterprise and SMB space when you appreciate the pressure they face to optimize IT portfolios, and respond swiftly to Cloud strategies.”

About Skyview Capital, LLC
Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 25 transactions within its target market verticals. Visit http://www.skyviewcapital.com.

About Digital Fuel SV, LLC
Digital Fuel is an IT Business management (ITBM) tool that provides transparency and control over the costs of cloud environments and quality of IT services. Its suite of products allow businesses to optimize costs and sourcing across internal virtual infrastructure/private cloud and public cloud. Infrastructure teams use Digital Fuel to understand the costs of supplying private and public cloud environments, while CIOs and IT executives can understand the costs of supplying IT services.

LOS ANGELES, CALIFORNIA, UNITED STATES, November 21, 2016 /EINPresswire.com/ — Digital Fuel SV, LLC (“Digital Fuel”) has been recognized in the most recent Forrester report on Technology Business Management (TBM) Solutions and the most recent Gartner report on IT Financial Management (ITFM).

Digital Fuel is a leader in the rapidly growing IT Business Management (ITBM) sector, which provides software solutions that help CIOs, IT Managers, and Finance Managers oversee IT spending and budgets. ITBM provides IT leaders with capabilities to manage their costs and services while also demonstrating the value provided.

On October 31, 2016, Forrester released its Vendor Landscape report on the TBM Solutions market, where the new Digital Fuel is mentioned as a TBM vendor with broad focus in the marketplace.

Brett Arnott, Digital Fuel Director of Product Management and Product Marketing says of the recent coverage, “Establishing our new independent identity as Digital Fuel is extremely important for our success. So we are excited to be recognized by these respected analysts. Expect to see much more of the Digital Fuel brand as we build awareness in this dynamic marketplace.”

Digital Fuel will be issuing IT Business Management Suite Version 8.5 in December 2016. Brett Arnott says of the release, “This release is very important because it is our first release as Digital Fuel. With this release, we demonstrated the speed at which we can bring new solutions to market. We will maintain this new pace to quickly bring highly valuable and innovative solutions to our current and future customers.”

Digital Fuel has emerged as an industry leader in the ITBM sector, selling to blue-chip enterprise customers across multiple end markets including Financial Services, Government, Education, and Healthcare. The business has helped customers optimize their IT spend and realize significant cost savings while being more responsive to internal customer needs. Digital Fuel provides Cost Transparency, Service Level Management, and IT Benchmarking solutions. Digital Fuel sells software licenses, SaaS subscriptions, and professional services to Fortune-1000 enterprises globally. Digital Fuel provides the openness, certainty and flexibility which other systems lack. This allows enterprises to perform customer chargebacks, budgeting & planning, and cost optimization with confidence and credibility.

Digital Fuel COO and General Manager, Rick Bigelow, says of the release, “Digital Fuel is investing time and resources to make the product and user experience world-class. We have a big opportunity to grow Digital Fuel in 2017 so we are considering many options that will help us accelerate our growth.”

About Skyview Capital, LLC
Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 25 transactions within its target market verticals. Visit www.skyviewcapital.com.

About Digital Fuel SV, LLC
Digital Fuel is an IT Business management (ITBM) tool that provides transparency and control over the costs of cloud environments and quality of IT services. Its suite of products allows businesses to optimize costs and sourcing across internal virtual infrastructure/private cloud and public cloud. Infrastructure teams use Digital Fuel to understand the costs of supplying private and public cloud environments, while CIOs and IT executives can understand the costs of supplying IT services.

For additional information, please contact Public Relations at Digital Fuel at (925) 997-2557 or via email at PR@digitalfuel.com .
Stay connected with Digital Fuel by following our LinkedIn Account at https://www.linkedin.com/company/digital-fuel

SARASOTA, Fla., Jan. 17, 2017 /PRNewswire/ — xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced today that the Company has paid off debt incurred from the acquisition of Integrated Microwave Technologies (“IMT”) and earlier than required in the original acquisition agreement.

xG completed the $3MM acquisition of IMT on January 29th, 2016 using debt financing from the seller, Skyview Capital, LLC (“Skyview”). xG subsequently recorded a bargain purchase gain on the acquisition of approximately $2.7MM after receiving an independent valuation of the assets acquired. The original agreement required payoff of the debt over the following eighteen months. xG made the final payment on the outstanding debt and, as such, the obligation to Skyview has now been paid in full.

Roger Branton, CFO said, “We wish to formally thank Skyview and its principals for their professionalism in working with us over the past year on the transaction.”

About xG Technology, Inc.

Founded in 2002, xG Technology has developed technologies that enable always-available, always-connected and always-secure voice, broadband data and video communications. The company’s brand portfolio includes xMax and Integrated Microwave Technologies (IMT).

xMax is a patented all-IP, software-defined cognitive radio network that delivers mission-assured wireless connectivity in any RF environment. It provides a solution to the challenges of interoperability, survivability and flexibility in expeditionary and critical communications networks. xMax incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR), making it ideal for wide area, as well as rapid emergency communication deployment in unpredictable environments and during fluid situations. xMax offers solutions for numerous industries worldwide, including military, emergency response and public safety, telemedicine and critical infrastructure.

IMT is a leading provider of mission-critical video solutions, advanced digital microwave systems and engineering, integration, installation and commissioning services serving the Broadcast, Sports & Entertainment and MAG (Military, Aerospace & Government) markets. Since its inception, IMT has focused on building a product portfolio that incorporates a high level of performance, reliability and build quality, extended operating ranges and compact form factors. IMT’s product lines include digital broadcast microwave video systems, compact microwave video equipment for licensed and license-free sports and entertainment applications, and wireless video solutions designed for use by state, local and federal police departments. More information on IMT can be found at www.imt-solutions.com.

Based in Sarasota, Florida, xG has over 100 patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market (symbol: XGTI) For more information, please visit www.xgtechnology.com

Cautionary Statement Regarding Forward Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and similar expressions, as they relate to xG Technology, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

Samsung Electronics today announced its acquisition of NewNet Communication Technologies (Canada), Inc. (“NewNet Canada”), a company operating Rich Communications Services (RCS) business within NewNet Communication Technologies. Previously known as NewPace prior to its acquisition by NewNet Communication Technologies, the company is a leading provider of RCS infrastructure and services. The acquisition reinforces Samsung’s commitment to RCS as mobile networks transition to IP-based networks and services.

This acquisition is a critical milestone not just for Samsung but also for the communications industry. As an end-to-end GSMA-compliant RCS solution, it will accelerate the deployment of RCS-enabled networks, providing consumers with a ubiquitous standards-based messaging and communications platform. The acquisition will also enable Samsung to offer interoperable server solutions for mobile operators that do not already have their own RCS infrastructure. By driving significant value for operators and consumers, the mobile communications market can benefit from the broader communications ecosystem.

Consumers will benefit from an advanced messaging experience with features such as enhanced calling, group chat, and the ability to easily share and transfer large files including multimedia and high-resolution photos. Unlike other messaging apps in the market, users will be able to communicate on any network, with an RCS-enabled device as well as SMS-only devices.

NewNet Canada, based in Halifax, Nova Scotia, will continue to operate independently under the existing leadership of Brent Newsome and Gavin Murphy as a wholly owned subsidiary of Samsung Electronics Canada Inc.

VMware Inc. (VMW), recently a Dell-owned company, has announced the acquisition of its vRealize Business Enterprise and IT Benchmarking solutions by the global private investment firm Skyview Capital. The assets now owned by Skyview will form a new company under the name Digital Fuel SV LLC in which VMware will hold a minority stake. The selloff of vRealize will allow VMware to continue its commitment to cloud business and costing. (Also see: What the EMC-Dell Merger Means for VMware.)

VMware’s parent company, EMC, had previously chosen Skyview as a buyer for Syncplicity in 2015. VMware called Skyview an excellent fit for the buy, with “an established track record of successfully acquiring and growing businesses through increased investments in sales, marketing and R&D.”

VMware Focuses on Cloud Management

VMware’s sale of its vRealize Business Enterprise (formerly known as Digital Fuel IT Financial Management) and IT Benchmarking solutions (formerly known as iTHC) marks a larger initiative to narrow focus on its cloud management platform (CMP) business and its remaining vRealize family of products. VMware’s remaining vRealize Suite features vRealize Business for Cloud, a separate and distinct product line from vRealize Business Enterprise. VMware’s investment in cloud capabilities involves the development of offering costing, pricing, consumption analysis for both private and public clouds, and more for IT organizations. (Also see: VMware Takes a Stab at Cloud Computing.)

So your company has gained traction and has reached a point of success. The pressure for growth doesn’t dissipate as it’s critical that executives demonstrate the capability to enhance the bottom line and widen the profit margin. The executive’s appetite for additional risk in order to expand the size of the business exposes the company to additional internal and external environmental factors. One of those internal factors is the use of available cash towards the funding of growth opportunities. The decision for growth can be applied over time, as is the case of organic growth, or can be executed quickly through an acquisition.
Organic growth is usually a slow process that, over time, drains cash flow as resources are brought on to expand research and development, manufacturing, marketing and sales functions. Though organic growth doesn’t have large upfront costs, it does require a constant investment in operations. To stay competitive, management has to be careful with a slow-growth strategy, as some industries are dynamic and change quickly, which could leave the company behind if it doesn’t react fast enough. It’s important for the company to consider its overall position in the marketplace to determine if growing organically is the best solution. If the company operates in a fast moving industry, it may want to consider the benefits of an acquisition.

An acquisition usually involves an outlay of cash, debt and/or equity. Any of these options have individual challenges that place a strain on capital resources.

Cash: The release of cash obviously impacts the liquidity of the company which doesn’t just end with the acquisition. It’s highly probable that the company will have to spend more cash as it begins to merge the operations of both companies. One of the largest expenditures will be restructuring as the acquiring company begins to eliminate the redundancies between the two businesses. Outlay of cash will have an immediate impact on working capital, thereby reducing liquidity. With reduced liquidity comes the need to closely monitor the timing of cash receipts and payouts which management must balance along with the efforts associated with the acquisition.

Debt: The benefit of issuing debt or borrowing from a financial institution is that it will not require an immediate reduction of the Company’s working capital, but it will burden it with future interest costs. Borrowing from lenders usually bring upon debt covenants that burden the company with restrictions. These restrictions are designed to limit the loan holders risk and control certain aspects of the company. To avoid some of these restrictions that are imposed by financial institutions, the company can also consider the benefits of issuing bonds. Bonds usually are less restrictive as the terms can be controlled by the issuing company.

However, these terms have to be in alignment with the company’s risk profile as measured against comparable profiles for similar bond offerings. Different types of bonds can be offered which will impact the marketability and interest rate. For example, convertible bonds have features that allow the bondholder to convert the bond to equity during some designated period based on varying contingencies. These types of bonds need to be carefully analyzed by the management to ensure the outcome of any conversion falls within their range of acceptance for diluting ownership.

Equity: Issuing equity may dilute the interest of the shareholders, but it usually doesn’t place any immediate or future cash flow strain on the company. Equity can be distributed through different products: common shares, preferred shares, and warrants. Each of these products has advantages and disadvantages that need to be assessed by management to ensure that it’s in balance with the stakeholders’ tolerance level.

Common Shares: These shares can be issued to expand ownership and attract investment into the company. The advantage of common shares is that stock dividends are not mandatory, but the disadvantage is that additional ownership reduces the current ownership’s interest in the company and reduces their voting power. The new investors’ interest may not be in complete alignment with management which could cause further disruptions to the overall performance of the company.

Preferred Stock: This type of stock is considered a financial product that falls between bonds and common stock. Preferred shares/stock commonly have a fixed dividend that gets paid before common shareholders and normally do not have any voting rights. The benefit of preferred stock over bonds is that the fixed dividend doesn’t have to be paid as it can be suspended by the board of directors. Preferred stock can take the form of many types: convertible, cumulative and callable.

Convertible preferred stock can be converted to a set number of common stock at or before an established date. Preferred stock usually has a cumulative feature that requires the company to pay out all prior withheld dividends prior to any dividend being paid to common shareholders. Some preferred stock can have a callable feature that will allow the company to purchase these shares back based on parameters that can be pre-established prior to issuance.

Stock Warrants: This is another form of ‘currency’ that a company could use for acquisition purposes. This product gives the holder a right to buy securities in the company at a stated price and within a stipulated timeframe. This right is not in the form of an obligation on either party. However, in order to accept this as a form of consideration, the holder has to believe that the fair value of the stock will sufficiently exceed the stated purchase price prior to the expiration date of the warrant. It’s important that the company consider the dilution impact that stock warrants will have on the ownership if and when they are converted.

Whether the company decides to grow organically or through acquisitions, it must place emphasis on cash management. As we discussed, financing growth can take on many forms but they all ultimately lead to an outlay of cash. Understanding the owners’ appetite for timing of these cash outlays and the potential for diluting ownership are ultimately the two most important considerations.

Jeffrey Luft resides in New York and is an active CPA. He currently works for NewNet Communication Technologies (a Skyview Capital portfolio company) and previously worked for Arthur Andersen, Goldman Sachs and KPMG.

There are many options to finance a business. While making the correct financial choice will lead to success, implementing the wrong type of financing will cause a company to fail. Many startup businesses are unable to fund their operations with just operational cash flow. Therefore, it’s critical that the appropriate financing be obtained with minimal interruption to the growth of the business. This means that the business not only needs to have enough cash flow to fund the day-to-day activity, but it also must obtain sufficient funds to promote investment in capital assets and/or research & development.

Balancing the financial needs of a company is over looked by many entrepreneurs. This is evident in the statistics which reflect that 25% of startups fail within the first year of business. Worse is that approximately 50% of the startups fail after four years of business. Many of these failures are the result of an inadequate business plan, aggressive pricing of product/service, stiff competition from established industry leaders, and/or the lack of a basic fundamental understanding of financing.

A startup is driven by a great idea that captures the owner’s desire to entertain some level of risk. This risk may be in the form of one’s reputation, time and/or assets. Typical startups are initially formed with the owner’s own capital. Additional capital may come from the owner’s family or friends which may be sufficient for small companies to finalize their infrastructure and to keep their doors open for a limited time. Other owners have the mass market dream and aspire taking on greater risk for the betterment of their idea. Entering the mass market requires a different financial strategy and involves a more complex business structure. In this case, it’s important the business not be solely dependent on the entrepreneur but rather capitalize on the relationships it maintains with individuals within and outside the organization. A key resource for the stability of the company is the partnership that it maintains with the individuals associated with its financing.

Common Types of Financing for Startups

There are many financing alternatives available to a company, and each one entertains some level of risk. The responsible parties must decide between paying interest associated with debt or diluting the ownership structure. Many times the owners do not want to give up their stake and opt for debt financing which burdens the company with interest expense that reduces its cash flow. Some debt financing comes with financial covenants that restrict the company from making capital investments as certain financial ratios (e.g. working capital) must be maintained. Therefore, it is necessary for the stakeholders to consider various equity financing alternatives before locking into any specific structure. Some of these equity alternatives include:

Angel investor – this is an individual investor that invests in the company through the purchase of equity interest or will lend the company money at a premium interest rate. This is usually an investment that is considered seed money. Angel investors are high net-worth individuals that are willing to take on moderate to high risk in order to make investments that can yield a high return. Angel investors typically seek companies that are slightly beyond the startup phase and need funds to broaden research and development and/or expand marketing. The downside with Angel investors is they usually take large stakes of ownership and seek out quick exits to maximize their returns.

Venture Capital – similar to an Angel investor a in early-stage businesses and seeks high returns. Venture Capital companies represent a pool of investors that look for high-risk private companies that have the potential to be very profitable. A partnership with a venture capital company usually leads to an initial public offering.

IPO – Initial public offering is a long and enduring process. The company will usually engage an underwriter/investment bank, SEC lawyers and auditors to assist them with the IPO process. The services provided by these professionals will be very expensive and will take several months to complete. A registration Form S-1 will be filed and reviewed by the SEC. Once the SEC completes its review, the registration will allow the underwriter syndicate team to sell the shares to the public. Smaller companies that are looking to raise $50 million or less can consider the SEC’s Regulation A+, which is less involved than filing a Form S-1. Under Regulation A+ tier 2, the state compliance (Blue Sky Law) was eliminated and allows funds to be raised from qualified investors (unlike Regulation D – Rule 56 (c) which requires funds be raised from accredited investors only). Regulation A+ is a good option for stable private companies that need to raise capital without going through the extensive IPO process.

Reverse Mergers – when a private company wants to go public quickly it usually considers the benefits of a reverse merger. Typically, a private company will find a public shell company that is significantly underperforming (usually has a toxic structure) and will complete a due diligence. If the private company is satisfied with the due diligence’s results and considers the price to acquire the shell company reasonable, then it will purchase the public company. This structure will then allow the company to raise capital by selling shares to the secondary market within a short period of time. The complexity of this transaction varies if the acquired company is traded on a national exchange or the pink sheets. The downside of the reverse merger is that, though it’s cheaper than an IPO, the acquiring company will still have to pay for accounting and legal professional fees in addition to the purchase price of the public/shell company.

Private Equity – if the company is looking to bring in a partner to raise capital or unwind a significant portion of ownership then it can consider being acquired by a private equity company. Private equity companies will assist the company with realizing its full potential by not only providing it with capital resources but also offering industry expertise. Professionals at a private equity will know how to maximize the company’s value and work with management to create long term sustainable growth and success. Many private equity companies will want significant control over the company to ensure they have the ability to make the appropriate managerial decisions. Private equity financing offers the owners a quick option to obtain capital or cash-out at a minimal cost when compared to IPO’s and reverse mergers.

Selecting the appropriate financing alternative is one of the most important decisions for a profitable company. The company needs to insure that it selects the correct financing structure that is in line with its long-term goals and will allow it to enhance its overall value for the owners.

Jeffrey Luft resides in New York and is an active CPA. He currently works for NewNet Communication Technologies (a Skyview Capital portfolio company) and previously worked for Arthur Andersen, Goldman Sachs and KPMG.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

VoltDelta highlighted for delivering integrated and innovative cloud contact center solutions within the Oracle Service Cloud

Chicago, IL– February 1, 2016 – VoltDelta announced today that CIOReview Magazine has named VoltDelta to its list of the 100 Most Promising Oracle Solution Providers for 2015. A distinguished panel of CEOs, CIOs, VCs, analysts and the editorial board of the CIOReview selected the final 100 companies.

“VoltDelta stood out as one of Oracle’s first partners to integrate a WebRTC solution within the Oracle Cloud Service for multimedia support in 2015,” said Jeevan George, Managing Editor, CIOReview. “VoltDelta’s integration within the Oracle Service Cloud benefiting customers, agents and managers with multichannel contact center support embodies our selection committee’s goal of spotlighting innovation that is changing the Oracle solutions landscape.”

VoltDelta’s Oracle integration effectively merges the worlds of call and message handling with CRM-based contextual knowledge by enabling customer engagement management and reporting within familiar Oracle screens for agents and managers. A VoltDelta embedded media bar within the Oracle Service Cloud desktop makes it easy for agents to more intelligently engage with customers over calls, emails, chat and social media.

“Enabling Oracle Service Cloud users with VoltDelta’s cloud contact service services means that organizations of all sizes can now deliver more personalized customer care to encourage loyalty and contribute to the bottom line,” said Jonathan Huberman, CEO of VoltDelta. “VoltDelta is honored to be recognized by CIOReview’s panel of experts and thought leaders as one of the most promising Oracle Solution Providers.”

CIOReview constantly endeavors to identify “The Best” in a variety of areas important to tech business. Through nominations and consultations with industry leaders, our editors choose the best in different domains. Find out more at www.cioreview.com.

New York, NY, October 5, 2015 –VoltDelta announced today that its cloud contact center platform has been recertified with a Service Provider Level 1 Attestation of Compliance for the Payment Card Industry Data Security Standard (PCI-DSS). This Attestation certifies through independent audit that VoltDelta’s Cloud Contact Center once again meets the highest security standards set forth for payment card processing today.

PCI Level1 Certification is considered the most stringent level of PCI validated security. To achieve PCI level 1 compliance, VoltDelta engaged in an extensive third-party audit conducted by an organization that has been designated by the PCI Council as a Quality Security Assessing (QSA) Company.

This independent QSA has reconfirmed as annually required by PCI Council standards, that VoltDelta meets industry best practices and security controls required to keep credit card data and other sensitive information safe and secure during transmission, processing and storage. As a result, VoltDelta has been recertified for PCI Service Provider Level 1 DSS.

“Independently audited PCI certification provides our cloud contact center customers with secure customer care confidence that cannot be matched by infrastructures that rely on PCI self-assessments,” said Yusuf Bulan, General Manager of VoltDelta, “VoltDelta’s commitment to confidentiality, system availability and data integrity within our entire organization ensures that contact centers of all sizes will benefit from systems and processes in place for multichannel security.”

Requirements for segmentation practices between tenants in hosted environments

Strong encryption for data management without the use of SSL

Compliance with the PCI standard is required for organizations directly involved in the processing, storage, or transmission of cardholder data. VoltDelta’s PCI Level 1 certification adds independently verified proof that its cloud contact center infrastructure delivers the security necessary to ensure confidentiality, availability and integrity for payment card data as well as for all forms of sensitive information.

In private equity, deal flow is the lifeblood of each firm. It is crucial to bring a stream of interesting deals into the firm. There are two types of deal leads: proprietary and non-proprietary auctions. Buyout professionals greatly prefer the proprietary, non-auctions deals. These proprietary deals, since they are not structured auction processes, have less competition, which can allow for more favorable purchase price and terms.

You can think of deal sourcing like any sales channel. It is funnel of unqualified leads turning to qualified leads, turning to active discussions, turning to NDA, turning to Letters of Intent, turning to executed transactions. At each stage, only a percentage of deals make it to the next stage. Therefore, if you start with 100 unqualified leads it may only turn into one completed transaction. Since it is a numbers game, it is crucial to generate and efficiently process as many deals as possible. Firms have diverse approaches to deal sourcing; some have huge in-house teams of deal-sourcing specialists; at some firms all deal professionals are responsible for deal sourcing and executions.

There has been a significant rise in the number of portfolio operations groups in private equity over recent years. Private Equity boomed in the 1980’s and primarily relied on the use of financial engineering in leveraged buyouts to achieve the high returns that defined that era. As more leveraged buyout shops emerged, the competition for deals increased and returns subsided. In addition, in the post-credit crisis world it has been more challenging to obtain credit, and private equity funds have had to write larger equity checks than before which has also negatively impacted private equity returns.

Arlington Heights, IL- NewNet Communication Technologies LLC, a global leader in mobility technologies, broadband wireless, messaging, and signaling solutions and services, as part of its global expansion into new markets and service offerings announces today the significant expansion of services in the mobile messaging space with the completion of the acquisition of Tekelec’s Mobile Messaging Business Unit.

NewNet is a portfolio company of Skyview capital, a Beverly Hills, California based private equity firm.

The extension of NewNet’s mobile messaging product portfolio addresses challenges that the mobile industry is encountering with the maturing and evolution of text messaging services. New developments in current and additional markets deliver the advancements that operators and consumer Internet companies demand globally.

NewNet’s CEO, PJ Louis, said: “With such explosive growth in Mobile, our company needs to expand and develop new products and services for our existing and future customers.” Louis continued, “NewNet is committed to providing state of the art solutions to our customers and this acquisition will allow us to enter new vertical markets, paving the way to new exciting services combining multimedia, IP-­‐based content delivery, and messaging”.

“With the acquisition of Tekelec’s Mobile Messaging business NewNet is best positioned to deliver the solutions for consumer-­‐oriented next generation mobile communication technology,” said Alex Soltani, Chairman and CEO of Skyview Capital. “We have strong interest to support NewNet as a leader in current and future developments in mobile messaging, secure transaction, and next generation mobile applications. Skyview and NewNet are actively looking for additional acquisitions in these market segments.”

About Skyview Capital, LLC
Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and continuous management of “systems‐critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-­‐term sustainable value of the businesses it acquires.

To date, Skyview has successfully completed over 15 transactions within its target market verticals. For furtherinformation, please visit www.skyviewcapital.com

Skyview Capital through its portfolio company NewNet Communications Technologies Acquires the Tekelec Mobile Messaging Business

Tekelec’s Mobile Messaging solution is based on its future proof, innovative and modular “Short Message Services (SMS) Network” concept, designed to overcome the obstacles of legacy SMS infrastructures and allow operators to deploy new advanced messaging services to increase revenues and reduce capital expenditures and operating expenses.

The acquisition of the Tekelec Mobile Messaging business represents a significant milestone in the evolution of NewNet’s product portfolio and market focus. The group’s globally deployed employees will become part of NewNet’s team, ensuring business and product development continuity.

NewNet’s CEO, PJ Louis, said: “Our acquisition of Tekelec’s Mobile Messaging business will enable NewNet to expand on its next-generation messaging solution to service providers, enhancing our competitive position and accelerating our commercial growth.” Louis continued, “NewNet is committed to providing best in breed products and unrivaled service and support to our global customer base. The Tekelec Mobile Messaging business combined with NewNet’s existing signaling, SMS messaging, and Mercury Multimedia Messaging applications will enable NewNet to offer our carrier customers an even more robust product solution.”

“NewNet will take the Tekelec Mobile Messaging technology to its next stage through continued investment in the platform and aggressive global marketing,” said David Rice, Senior Vice President and General Manager of Tekelec’s Global Signaling Solutions business. “NewNet’s strong messaging position, seasoned management team and commitment to customer service will help service providers fully capitalize on the legacy and next-generation mobile messaging services.”

Angela Ledford, NewNet EVP and Telecom Applications Business Unit General Manager says of the acquisition, “We are excited to add the Tekelec Mobile Messaging products, services and capabilities to our existing Short Messaging Service Center (SMSC) and Multimedia Messaging Service Center (MMSC) portfolio.”

“The acquisition of Tekelec’s Mobile Messaging business is strategically important to the continued development of NewNet,” said Alex Soltani, Chairman and CEO of Skyview Capital. “We see mobile data and messaging as an area of significant growth. Skyview will continue to expand NewNet’s product portfolio and market reach, positioning NewNet for exceptional future growth.”

The Stock purchase Agreement was signed July 7, 2012, with an anticipated closing date by August 10, 2012. Terms of the agreement were not disclosed.

About NewNet Communication Technologies

NewNet Communication Technologies, LLC is a leading provider of innovative solutions for next generation mobile, fixed line networks and credit card processing. NewNet enables global telecom operators and equipment manufacturers to rapidly develop and deploy cutting edge, revenue generating applications that delver feature rich, value added services. A 20 plus year old company, NewNet products can be found in over 70 countries. The NewNet portfolio includes a 4G WiMAX broadband solution, TraxcomSecure transaction payment processing technology, Mercury, an integrated messaging and content deliver system. NewNet connects the unconnected. NewNet is based in Arlington Heights, IL USA. For further information, please visit www.newnet.com

About Skyview Capital, LLC
Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 15 transactions within its target market verticals. For further information, please visit www.skyviewcapital.com

Beverly Hills, CA- Skyview Capital, LLC, a privately held investment firm headquartered in Beverly Hills, CA, announced today the successful sale of TRM Copy Centers, LLC, and its subsidiary, Solvport LLC, to Burroughs Payment Systems, a portfolio company of Marlin Equity Partners. TRM is the largest nationwide provider of self-service retail copy centers, while Solvport is a leading nationwide ATM and Kiosk outsourced services provider.

Skyview acquired TRM’s US Photocopier business from TRM Corporation in January of 2007. TRM Copy Centers is the largest retail-based photocopy services company in the country, providing convenience-copying services in retail environments.

Solvport, acquired by TRM Copy Centers in 2008, is one of the leaders in the outsourced, off-premise ATM & Kiosk services industry, providing field technical service, installation, help desk services, real-time monitoring, project management, and parts and supplies. The acquisition of Solvport leveraged TRM Copy Centers’ sophisticated field service infrastructure and nationwide base of talented and trained service engineers to the off-premise ATM & kiosk services industry.

Alex Soltani, Chairman and CEO of Skyview Capital, LLC, stated: “We are very pleased with the outcome of this transaction. As TRM was one of our earlier investments and with the execution of disciplined business strategies by a strong management team, it proved to be very successful. TRM and Burroughs present a highly complementary fit that will be of great benefit to both employees and customers alike. We wish the combined business further success in the future.”

About TRM Copy Centers, LLC

TRM Copy Centers, LLC is the leading nationwide provider of self-service convenience photocopy services in the retail environment. TRM Copy Centers operates more than 14,000 copy centers throughout the United States, and supports some of the country’s largest and most successful retailers including grocery, convenience and drug store chains as well as thousands of independently owned businesses. For further information, please visit www.trmcopycenters.com

About Solvport, LLC

Solvport, LLC is a national leader in the outsourced, off-premise ATM & Kiosks services industry, providing help desk technical support, field service, real-time monitoring, and project management for over 120,000 locations nationwide. Their customers include leaders in the ATM Independent Sales Organization (ISO) industry as well as some leading companies serving the financial institutions market. For further information, please visit www.solvport.com

About Skyview Capital, LLC

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 15 transactions within its target market verticals. For further information, please visit www.skyviewcapital.com

About Marlin Equity Partners

Marlin Equity Partners is a Los Angeles, California-based private investment firm with over $1 billion of capital under management.The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational, financial or market-driven change where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company’s outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 55 acquisitions. For further information, please visit www.marlinequity.com.

Corporate Carve Out Due Diligence Checklist

Wednesday, May 30.

News from the Association of Insolvency & Restructuring Advisors

Many corporations are seeking to enhance shareholder value by divesting struggling or non-core divisions. This process is called a “carve-out” (see the last edition of AIRA Journal (Vol. 25 No. 5.) for a previous article on this topic). Buying carved-out business units is more challenging than buying existing standalone businesses and there are a number of unique challenges. Strategic buyers usually have an existing business infrastructure that can be used to run the business. Private equity buyers, on the other hand, need to develop this infrastructure so that the carved-out entity can operate independently. There are a number of carveout specific due diligence issues which should be evaluated to help ensure a successful acquisition, transition, and exit.

NewNet Relaunches with WiMAX at the Center

Who says WiMAX is dead? Don’t tell that to the folks at NewNet Communication Technologies, or the firm’s owner, Skyview Capital.

NewNet is 20+ years old and includes the former WiMAX division of Motorola, which was sold to Nokia Siemens Networks in 2010 and acquired by NewNet this past February. More recently, the owners brought in wireless industry veteran PJ Louis to serve as interim CEO. For the past several weeks, he’s been fine-tuning the business using his turn-around expertise.

WiMAX isn’t the only piece of NewNet’s business, but it is a significant part. The company is using the CTIA Wireless 2012 convention in New Orleans this week as a relaunch pad of sorts. Louis says they didn’t have time to get exhibit space but they did reserve a meeting room and they’ll be conducting meetings throughout the conference.

NewNet’s product offerings include but are not limited to: TraxcomSecure electronic transaction processing solutions for mobile payments and eCommerce; Mercury, a mobile multimedia content delivery platform; the Total Control PDSN platform for mobile data services in CDMA networks; and the WiMAX broadband product portfolio.

The company is in the process of developing an LTE product line, but for now, it’s full-steam ahead with WiMAX, according to Louis. “WiMAX is going to continue to have a role” in the years ahead, he says, adding that a lot of customers are rural operators in underserved markets where WiMAX is still an affordable option. The company is basically looking at markets that are largely ignored by bigger infrastructure vendors. “I see WIMAX and LTE living side by side.”

Louis was in Arlington Heights, Ill., last week visiting the offices of the old Motorola WiMAX team. NewNet’s products can be found in about 70 different countries, and it employs about 380 people based mainly in North America, Asia and the Middle East. Company marketing material says NewNet is experiencing “dramatic growth.”

Matt Thompson, vice president of portfolio operations for Skyview Capital, which is a Beverly Hills-based private equity firm, says the company spent a lot of time studying the market before making the WiMAX investment. Thompson, who also serves as senior vice president of corporate development for NewNet, met Louis about 10 years ago at a CTIA show and Skyview brought him on as CEO in April of this year.

Shelton, CT – Feb 8, 2012 – NewNet Communication Technologies LLC, a wholly owned portfolio company of Los Angeles based private investment firm Skyview Capital LLC, announced today that it has completed the initial closing of the acquisition of the former Motorola Solutions’ WiMAX business from Nokia Siemens Networks. As of February 4th 2012, NewNet will be assuming the responsibility for the research and development of the WiMAX product portfolio and the support and services responsibility for a majority of the WiMAX business customers.

Approximately 175 employees across the globe are transferring to NewNet in this initial closing. NewNet will be adding research and development facilities in the UK and expanding its R&D teams in the US and India. NewNet will also add significant service and support capabilities in Pakistan, Bahrain and the UAE. Hong Kong and the countries of China, Malaysia and Taiwan are projected to close in March. This later closing will result in the transfer of approximately 125 additional employees to NewNet across R&D, sales, service and support functions.

“We have worked in close co-operation with the Nokia Siemens Networks team to allow us to integrate the WiMAX technology and product offering quickly and efficiently into NewNet so that we can turn our attention to providing world class service and support to our WiMAX customers,” said Ron Pyles, CEO and President of NewNet. “We are tremendously excited to invest NewNet resources to continue to enhance the WiMAX technology to a new level. We see many opportunities to grow this business. Key areas of market opportunity include mobile broadband, Smart Grid and public safety solutions.”

“We are elated to have completed the initial closing on this strategic acquisition, as it represents yet another significant milestone in our razor sharp focus on building a global market leader, within the telecommunications industry through NewNet Communication Technologies,” said Alex Soltani, Chairman and CEO of Skyview Capital. “The acquisition brings a blue-chip international customer base and a leading edge 4G-WiMAX technology providing an exceptional platform for further growth, both organically and through additional acquisitions. As always Skyview remains fully committed to supporting Ron and our NewNet team, and welcomes aboard the talented professionals joining us as a result of this transaction.”

The acquisition establishes NewNet as the leading provider of end to end WiMAX products and services in the marketplace. The acquisition also expands NewNet’s customer footprint across the globe, with service and support responsibilities for 43 customers across 27 countries, and provides access to major emerging market regions that are anticipated to experience substantial subscriber growth and mobile broadband usage.

NewNet will be showcasing and demonstrating its WiMAX product portfolio at the upcoming Mobile World Congress, to be held in Barcelona from February 27 to March 1, in Hall 8 Booth 8A169.

About NewNet Communication Technologies, LLC

NewNet Communication Technologies, LLC is a leading provider of innovative solutions for next generation mobile and fixed line networks. NewNet enables global telecom operators and equipment manufacturers to rapidly develop and deploy cutting edge, revenue-generating applications that deliver feature-rich, value added services. Recognized as a trusted leader in the carrier applications market for over 20 years, NewNet has been synonymous with telecom product excellence and development expertise. The company is committed to providing unparalleled service to its customers. With installations in major carrier networks in over 70 countries, NewNet’s product offerings include: The WiMAX end to end wireless broadband product portfolio; TraxcomSecure® electronic transaction processing solutions, which deliver services such as mobile payments, e-banking, and e-commerce; Mercury, the industry’s most complete purpose-built, mobile multimedia content delivery platform; and the Total Control PDSN platform, which provides economic delivery of premium mobile data services in CDMA networks. Other products include Distributed7, the world’s first standards-based signalling platform, and a short message service center (SMSC), which has been deployed in more than 200 wireless networks worldwide. The company is headquartered in the USA, with sales and support teams located around the world.
For more information, visit www.newnet.com

About Skyview Capital, LLC

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and management of “systems critical” businesses in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial strength, Skyview systematically enhances the long-term value of the companies it acquires.
For more information, visit www.skyviewcapital.com.

NewNet plans to acquire Nokia Siemens Networks WiMAX business

NewNet Communication Technologies, LLC, a Skyview Capital, LLC portfolio company, announced today that the company plans to acquire the former Motorola Solutions’ WiMAX business from Nokia Siemens Networks. Under the terms of the agreement, NewNet would acquire the complete WiMAX product portfolio, the related employees and assets, as well as active customer and supplier contracts. Approximately 300 Nokia Siemens Networks employees would transfer to NewNet. The companies expect to close before December 31, 2011.

“The addition of the WiMAX business would enhance the breadth of NewNet’s product portfolio, R&D capabilities, customer relationships and our overall market position in providing wireless infrastructure solutions to carriers on a global basis. We are thrilled at the prospect of welcoming a world-class group of WiMAX pioneers and thought leaders to the NewNet team,” said Ron Pyles, president and CEO of NewNet. “NewNet recognizes there is enormous potential in providing outstanding products, support and services to operators who have already invested heavily in WiMAX technologies as well as those who will do so in the future. We are committed to serving the market with an industry leading roadmap and innovative product migration options.”

“We believe that our current WiMAX customers would receive the highest quality products, services and sales support from NewNet,” said Marc Rouanne, head of Network Systems, Nokia Siemens Networks. “This transaction would also provide an excellent opportunity for our WiMAX employees. We have great confidence in NewNet’s plans to become a major WiMAX infrastructure provider. The company has a solid track record in acquiring telecommunication businesses and driving revenue growth.”

“This transaction represents a significant milestone in our strategy of building a strong global presence in the telecommunications marketplace through NewNet Communication Technologies”, said Alex Soltani, chairman and CEO of Skyview Capital. “We are very excited about the WiMAX market opportunity and are fully committed to supporting Ron and his team as they evolve the business into a global leadership position.”

As a part of the transaction the companies expect to transition approximately 300 globally deployed Nokia Siemens Networks employees to NewNet. Many of these employees are based in suburban Chicago, USA and Hangzhou, China. Nokia Siemens Networks and NewNet believe this acquisition would provide transferring employees with attractive professional growth opportunities in a solid, technologically advanced company that has an on-going focus within their core areas of expertise.

Specific terms of the transaction were not disclosed.

About Nokia Siemens Networks

Nokia Siemens Networks is a leading global enabler of telecommunications services. With its focus on innovation and sustainability, the company provides a complete portfolio of mobile, fixed and converged network technology, as well as professional services including consultancy and systems integration, deployment, maintenance and managed services. It is one of the largest telecommunications hardware, software and professional services companies in the world. Operating in 150 countries, its headquarters are in Espoo, Finland. For more information please visit www.nokiasiemensnetworks.com.

NewNet Communication Technologies, LLC is a leading provider of innovative solutions for next generation mobile and fixed line networks. NewNet enables global telecom operators and equipment manufacturers to rapidly develop and deploy cutting edge, revenue-generating applications that deliver feature-rich, value added services. Recognized as a trusted leader in the carrier applications market for over 20 years, NewNet has been synonymous with telecom product excellence and development expertise. The company is committed to providing unparalleled service to its customers. With installations in major carrier networks in over 70 countries, NewNet’s product offerings include: Mercury, the industry’s most complete purpose-built, mobile multimedia content delivery platform; TraxcomSecure® electronic transaction processing solutions, which deliver services such as mobile payments, e-banking, and e-commerce; and the Total Control PDSN platform, which provides economic delivery of premium mobile data services in CDMA networks. Other products include SS7, the world’s first standards-based signaling platform, and a short message service center (SMSC), which has been deployed in more than 200 wireless networks worldwide. The company is headquartered in the USA, with sales and support teams located around the world. For more information, visit www.newnet.com.

About Skyview Capital, LLC

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and management of “systems critical” businesses in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial strength, Skyview systematically enhances the long-term value of the companies it acquires. For more information, visit www.skyviewcapital.com.

Safe Harbor Statement

Except for historical information contained herein, the statements in this release are forward-looking and may involve a number of risks and uncertainties. Forward-looking statements are based on information available to management at the time, and such forward-looking statements involve judgments. Such forward-looking statements include, but are not limited to, statements regarding the expected timing of the completion of the transaction; the ability to complete the transaction considering the various closing conditions; the benefits of such transaction; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief; any statements regarding general industry conditions and competition. Forward-looking statements include expressions such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “may,” “plan,” “predict,” “will,” and similar terms and expressions. These forward-looking statements are made based on expectations and beliefs concerning future events affecting the company and are subject to various risks, uncertainties and other factors relating to its operations and business environment, all of which are difficult to predict and many of which are beyond management control, and that could cause actual results to differ materially from estimated results expressed in or implied by these forward-looking statements. Such risks and uncertainties include, but are not limited to, the risks to both companies that the acquisition of the WiMAX business will not be consummated within the stated time frame because of the inability to satisfy closing conditions including obtaining needed regulatory approvals in various jurisdictions; the requirement that NewNet establish local entities to receive the acquired assets of the WiMAX business; and compliance with local employee related laws as well as, in respect of Nokia Corporation including Nokia Siemens Networks, the risk factors specified on pages 12-39 of Nokia’s annual report Form 20-F for the year ended December 31, 2010 under Item 3D. “Risk Factors”. Forward-looking statements made in this release, or elsewhere, speak only as of the date on which the statements were made. New risks and uncertainties arise from time to time, and it is impossible for management to predict these events or how they may affect the company or anticipated results. All forward-looking statements are qualified in their entirety by this cautionary statement. In light of these risks and uncertainties, readers should keep in mind that any forward-looking statement made in this release may not occur. The companies have no duty or obligation to, and do not intend to, update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as may be required by law. Readers are cautioned not to place undue reliance on forward-looking statements.

Mercury’s advanced service compilation layer supports rapid development of multimedia campaigns, such as mobile advertizing and streaming media services that enrich the subscriber’s experience. Carriers are in full control of content creation and can launch highly effective campaigns supported by sophisticated platform services and analysis tools.

The acquisition of 3ple-Media and the Mercury platform represents a significant milestone in the evolution of NewNet’s product portfolio and market focus. 3ple-Media’s globally deployed employees will become part of NewNet’s team, ensuring business and product development continuity.

NewNet’s CEO, Ron Pyles, said, “The Mercury Multimedia platform has already had a positive impact on mobile operators in their quest for improved revenues, better multimedia services and faster delivery to subscribers. By efficiently harnessing the powerful combination of leading edge technology and commercial innovation, Mercury unlocks the multimedia opportunity for operators and enriches the subscriber’s experience. NewNet is pleased to have the opportunity to make the Mercury platform and applications available to carriers, content providers and advertisers on a global basis.”

“We are excited that NewNet has emerged to take the business we have built to its next stage through continued investment in the Mercury platform and aggressive marketing on a global basis,” said Costi Manda, Managing Director, CTO and co-founder of 3ple-Media. “NewNet’s industry presence and seasoned management team will enable the business to advance development plans and fully capitalize on the current demand for multimedia services.”

“This has been an extremely active year for both Skyview Capital and NewNet Communication Technologies, with no signs of slowing down. The acquisition of 3ple-Media represents yet another Skyview cross-border European investment, and is the second significant acquisition in 2010 on behalf of NewNet. 3ple-Media’s multimedia platform and leading edge technology is strategically important to the continued development of NewNet as a leading global telecom solutions provider,” said Alex Soltani, Chairman and CEO of Skyview Capital. “We will continue to make needed investments to further expand NewNet’s product portfolio, technology development, and market reach, positioning NewNet for exceptional future growth.”

The effective date of the agreement was September 29th 2010. Terms of the agreement were not disclosed.

About 3ple-Media, BV

3ple-Media, a Multimedia R&D company, provides a revolutionary solution that enables mobile operators the ability to rapidly develop, deploy and analyze media rich applications to their subscribers. The high performance platform provides a new source of high revenue growth for mobile carriers. The end-to-end services ensure complete access to and delivery of all multimedia campaigns at optimal quality. 3ple-Media is headquartered in The Netherlands.

About NewNet Communication Technologies, LLC

Headquartered in Shelton, Connecticut, NewNet Communication Technologies, LLC is a recognized leader in text messaging and network signaling solutions for wireless, IP, and wireline networks. NewNet’s robust, scalable telecom signaling platforms have enabled the rapid development and deployment of over four thousand carrier grade, revenue generating applications worldwide. NewNet, a pioneer in text messaging systems has deployed messaging platforms to mobile operators in over sixty countries. For nearly two decades, NewNet has been synonymous with signaling platform excellence and is a trusted name in SS7 signaling solutions. For more information, visit www.newnet.com.

About Skyview Capital, LLC

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and management of “systems critical” businesses in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial strength, Skyview systematically enhances the long-term value of the companies it acquires. For more information, visit www.skyviewcapital.com.

KRG acquired PAS as an investment for its $1.96 billion fund IV, and PAS is the second aerospace investment in that fund. KRG also invested in Tronair Holdings Inc., a manufacturer and marketer of aircraft ground support equipment.

PAS’ former owner, Gridiron Capital LLC of New Canaan, Conn., sold its stock after four years of majority ownership. Gridiron bought the former Praxair Surface Technologies Inc. in July 2006 and changed its name to PAS Technologies.

The business had about $67 million in revenue when Gridiron acquired it, and PAS doubled in size since then under the leadership of Robert Weiner, who died in May. Phil Milazzo, who was mentored by Weiner for 11 years, took over as CEO.

“We are excited to be partnering with the PAS team,” KRG Managing Director Chuck Hamilton said in a release. “PAS is a customer-focused organization with impressive global repair and coating capabilities that enable it to deliver value-added solutions for its partners. We expect to continue to invest in the company’s people and technologies to expand PAS’ growth opportunities and to build upon the impressive operations that its management has developed.”

KRG said it made the investment because it sees value in the company’s innovative repairs for high-wear parts to extend the useful life of components that are costly to replace.

“The PAS team has spent considerable time with KRG and is looking forward to the new partnership,” Milazzo said in the release. “We believe KRG and PAS share a common approach to conducting business with the highest standards and KRG’s resources and investment philosophy will enable us to accelerate our development of innovative repair and coating capabilities.”

Skyview Capital Completes Acquisition

BEVERLY HILLS, Calif.–(BUSINESS WIRE)–Skyview Capital, LLC, a privately held investment firm headquartered in Beverly Hills, CA, announced today the successful acquisition of the RAS/TRAX Business unit (www.traxcomtech.com), from UTStarcom (NASDAQ GS: UTSI), a global leader in the manufacture, integration and support of IP-based, end-to-end networking and telecommunications solutions.

“Acquiring one of only a handful of providers of leading edge technologies in the rapidly growing secure transaction processing industry gives us a solid platform to build new emerging technologies in an evolving market with new channels and delivery systems. This investment in high volume, high growth, and high value transactions is directly in line with our core investment principle of building strong companies with mission-critical products that have global acceptance within an established blue-chip customer base,” stated Alex Soltani, Chairman and CEO of Skyview Capital.

Skyview will continue the operations, support, and further development of these solutions under the new name of Traxcom Technologies, LLC, with the same staff that has developed and managed the technology and business under its previous ownership. This is an important step in assuring seamless transition and continued progress in this highly specialized technical operation.

About Traxcom Technologies, LLC

Traxcom Technologies, LLC’s is based in Bensenville, IL and is a global leader in secure transaction processing products and technologies originated in 1989 under the initial ownership of US Robotics and later developed by 3Com and UTStarcom. Traxcom’s secure transaction product Total Control 1000 currently processes more than 1.5 Billion transactions per month. Its products are installed and running in most of the major Carrier, Acquirer and Merchant networks today, with a worldwide customer base deployed in 55+ Countries. A new product line has been developed ready for launch called Access Guard 500, which is the next generation in the IP to IP Networking sector. Secure solutions are available for Dial to x.25; Dial to IP; and, IP to IP networks. Traxcom operates a global organization responsible for providing products and services to market leading customers in North America, Central and South America, Europe, the Middle East, Africa, India, Japan and Southeast Asian countries.

About Skyview Capital, LLC

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and management of “systems – critical” businesses in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial strength, Skyview systematically enhances the long-term value of the companies it acquires. For more information, visit www.skyviewcapital.com.

Fastech Strengthens Product and Service Portfolio

Company is now one of the 500 largest IT VARs in the US

PHILADELPHIA, Dec. 4 /PRNewswire/ — Fastech Integrated Solutions announced today that it recently completed the acquisition of two leading IT and Telephony services vendors focusing on small and mid-sized businesses. Fastech acquired the assets of Aserdiv, Inc. and Transcend Communications, Inc. The combined organization will offer a complete suite of IT and telecom solutions and expects 2010 revenues to exceed $30 million.

Aserdiv, based in suburban Philadelphia, is a leader in Riverbed WAN Optimization, wireless networking solutions, and data center management tools. The company has focused on market opportunities in the Northeast Corridor and maintains a regional office in suburban Boston.

Minneapolis-based Transcend is the largest regional reseller of Shoretel VoIP telephony and unified communications equipment in the US and operates in 35 states. The company is also a prominent provider of Avaya small business solutions.

“With revenues that place us among the top 5% of VARs nationally, an expanded engineering staff, and a wider, more comprehensive set of solutions to offer customers, we feel we are well-positioned for a bounce-back in IT spending in 2010 and beyond,” said Rick Hirsh, CEO of Fastech. “We’ve put the management team, systems, and processes in place to grow organically in the strategic areas of IP telephony and WAN Optimization using a managed services model, and also plan on more acquisitions over the next 9-12 months,” Hirsh continued.

The transaction was supported by financing from NewSpring Mezzanine Capital, LP (Radnor, PA) and First Savings Bank (Perkasie, PA).

About Fastech:

Fastech Integrated Solutions LLC provides integrated, cost-effective IT, network, and telecom solutions. Fastech delivers products and expertise in technologies such as Voice-over-IP telephony, WAN Optimization, data center management, and data replication. With these offerings, Fastech helps organizations solve real business problems such as improving call center performance, ensuring business continuity in case of a disaster, complying with major regulatory standards (such as SAS 70 and PCI DSS), and reducing staffing and operations costs in the data center. For more information, please visit www.fastechis.com.

Founded in 2004 by a tenured group of ATM industry professionals, Solvport is one of the leaders in the outsourced, off-premise ATM & Kiosk services industry, providing field technical service, installation, help desk services, real-time monitoring, project management, and parts and supplies.

Gary Cosmer, President and Chief Executive Officer of TRM Copy Centers, remarked, “After starting TRM Copy Centers in January of 2007, we developed a very sophisticated field service infrastructure to manage our existing lines of business. It will be a natural next step for us to leverage that current infrastructure. We will combine the infrastructure with our nationwide base of uniformed, talented and trained service engineers to expand our service offering to other synergistic industries. Our acquisition of Solvport, one of the leading providers of off-premise ATM services, allows us to expedite that activity and makes for an unbeatable combination.”

“We are excited about this transaction because a strong cultural match already existed between these two organizations prior to closing. The combination now created by this complementary acquisition will result in a dynamic service-centric entity consisting of a highly skilled base of uniformed technicians who have extensive experience in both electronic as well as mechanical machines. Consequently, this uniquely positioned company will now be able to offer superior quality and consistency to a broader segment of customers,” stated Alex Soltani, Chairman and CEO of Skyview Capital, LLC.

Solvport will move its operations, including its management team and help desk staff to TRM Copy Centers headquarters in Portland, Oregon. Wayne Vandekraak, co-founder of Solvport, said, “This is the natural next step in Solvport’s progression. The acquisition of Solvport by TRM Copy Centers provides our customers, employees, and business partners the benefits of TRM Copy Centers extensive merchandising and servicing capabilities.”

About Solvport, LLC

Solvport, LLC is a national leader in the outsourced, off-premise ATM & Kiosks services industry, providing help desk technical support, field service, real-time monitoring, and project management for over 120,000 locations nationwide. Their customers include leaders in the ATM Independent Sales Organization (ISO) industry.

About TRM Copy Centers, LLC

TRM Copy Centers, LLC is the leading nationwide provider of self-service convenience photocopy services in the retail environment. TRM Copy Centers operates more than 14,000 copy centers throughout the United States, and supports some of the country’s largest and most successful retailers including grocery, convenience and drug store chains as well as thousands of independently owned businesses.

About Skyview Capital, LLC

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. For more information, visit www.skyviewcapital.com

SS8 Networks Divests Signaling and SMS business

SAN JOSE, Calif. –(Business Wire)– SS8 Networks announced today that it has completed the sale of its signaling and SMS businesses to NewNet Communication Technologies, a limited liability company formed by Skyview Capital LLC, a privately held investment firm. Financial terms of the asset purchase agreement were not disclosed.

“The strategic sale of our Signaling and SMS businesses is part of our efforts to meet increased demand for our products, develop new product lines, and improve customer service in all our business segments,” said Dennis Haar, president and CEO for SS8 Networks. “The newly formed NewNet Communication Technologies will be best-positioned to serve our existing SMS and Signaling customers by offering increased support as well as developing new product lines. In turn, SS8 Networks will be able to refocus our attention on our core lawful intercept and voice messaging business.”

According to the terms of the deal, the Signaling and SMS businesses, which include a core team of SS8 Networks employees, will deliberately, seamlessly and transparently transition to NewNet Communication Technologies. This new independence will enable an increased focus on customer service, product line development and product deployment in the SMS and signaling sector.

“SS7 signaling and SMS both continue to be essential, pervasive technologies in service provider networks today and we are delighted by the opportunity to become market leaders within this dynamic and evolving segment of the telecommunications industry,” said Alex Soltani, Chairman and CEO, for Skyview Capital. “We are looking forward to working with this highly seasoned management team, as we continue to drive NewNet Communication Technologies into the future of next generation products and applications.”

Pagemill Partners, a premier investment bank that specializes in mergers and acquisitions, was involved in an advisory capacity to SS8 in this transaction.

About Skyview Capital

Skyview Capital, LLC, is a private investment firm headquartered in Beverly Hills, California, which specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. For more information, visit www.skyviewcapital.com.

About SS8 Networks

SS8 Networks, headquartered in San Jose, California, is an independent provider of carrier-grade, regulatory-compliant electronic surveillance solutions that have been deployed on all continents for the largest wireline, wireless, cable, VoIP and satellite service providers. These voice and data installations can already intercept more than 500 million subscribers, and serve over 10,000 law enforcement agents.

SS8’s expertise in communications forensics ensures that intercepted traffic is securely targeted, seized, stored, transferred and analyzed, so that evidentiary chain of custody is maintained for successful criminal prosecution. For more information, please go to www.ss8.com

NOTE TO EDITORS: SS8 Networks is a registered trademark of SS8 Networks Inc and Xcipio is a trademark of SS8 Networks Inc. All other company names and marks may be trademarks of the respective companies with which they are associated.

Combined Company to Provide Solution to Retail Industry

WEST CHESTER, Pa.–(BUSINESS WIRE)–Prescient Applied Intelligence, Inc. (OTCBB:PPID – News) announced today that it has entered into a Letter of Intent to purchase the assets of Fastech Integrated Solutions, LLC. Fastech develops world-class mobile, retail execution solutions tailored to the unique needs of companies in the CPG industry. ADVERTISEMENT

“Fastech’s mobile merchandising systems complement the solutions we provide to the retail marketplace, especially in the direct store delivery (DSD) category,” said Jane Hoffer, president and CEO of Prescient. “The combined offerings should give retailers and suppliers the tools they need to improve in-stock positions, resulting in better performance at the store shelf. The transaction is also expected to substantially increase our revenues, and provide additional liquidity as we look for opportunities to grow our business and increase shareholder value,” added Ms. Hoffer.

According to Rick Hirsh, CEO of Fastech, “We currently partner with Prescient in the delivery of its hosted solutions, so this acquisition is a natural extension of our existing business relationship. The companies’ combined ability to provide flexible solutions should result in greater penetration into the retail market.” Information about Fastech and its offerings is available at www.fastechis.com.

Under the terms of the LOI, Prescient will acquire 100% of the assets of Fastech. Fastech will receive 35% of the common stock on an as converted basis, as well as 35% of the preferred shares. The acquired assets include all intellectual property, client contracts, data center operations, and related assets. The acquisition is subject to, among other conditions, the completion of due diligence, the execution of a definitive agreement, as well as customary closing conditions. Additional information related to this transaction will be disclosed in a current report on Form 8-K and upon the execution of a definitive agreement. The transaction is expected to close on or before June 30, 2007.

About Prescient Applied Intelligence:

Prescient, founded in 1985 (OTCBB:PPID – News), is a leading provider of supply chain and advanced commerce solutions for retailers and suppliers. Prescient’s solutions capture information at the point of sale, provide greater visibility into real-time demand and turn data into actionable information across the entire supply chain. As a result, the company’s products and services enable trading partners to compete effectively, increase profitability and excel in today’s retail business climate. Household brand names like Ahold, Coors, Domino’s Pizza, Meijer, Rite Aid, Sara Lee, Schwan’s, SUPERVALU, and Wyeth rely on Prescient. For more information, go to www.prescient.com.

Forward-Looking Statement:

Any statements contained in this document regarding this transaction, as well as statements that are not historical facts, are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “if”, “should” and “will” and similar expressions as they relate to Prescient Applied Intelligence, Inc. are intended to identify such forward-looking statements. Prescient may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. There is a risk that this transaction will not close. For a discussion of such risks and uncertainties, see “Risk Factors” in Prescient’s report on Form 10-KSB filed with the Securities and Exchange Commission and its other filings under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

TRM Completes Sale of US Business to Skyview Capital

PORTLAND, Ore., Jan. 30 /PRNewswire-FirstCall/ — TRM Corporation (Nasdaq: TRMM – News) announced today that it has completed the sale of its US Photocopier business to TRM Copy Centers, LLC, a limited liability company formed by Skyview Capital, LLC, a privately held investment firm, for $9.2 million. Net proceeds from the sale will be used to reduce debt and other corporate purposes.

“The sale of our US Photocopier business is a significant part of our ongoing efforts to simplify our business operations and meet our immediate debt obligations. This sale, together with the sale of our Canadian ATM business, which closed earlier this month, and our United Kingdom ATM business, which closed last week, will allow us to focus our efforts and resources on our United States ATM business. We will continue to have one of the largest ATM networks in the United States and we remain committed to its excellence and growth,” said Jeff Brotman, TRM President and Chief Executive Officer.

TRM Corporation and TRM Copy Centers , LLC have also signed a Facilities Maintenance Agreement and Transition Services Agreement that provide for certain services by and for TRM Corporation during a transition period that is expected to be between 45 and 180 days. Over 100 TRM Corporation employees were transferred with the sale of the US Photocopier business.

Alex Soltani, Chairman and Chief Executive Officer of Skyview Capital, also stated, “We are delighted to have consummated this transaction and are looking forward to forging onward and achieving great results with the full pledge and support of TRM Copy Centers, LLC’s exceptional management team.”

TRM Corporation was advised by Allen & Company LLC with respect to the transaction.

TRM Copy Centers, LLC Regarding the transaction, Gary Cosmer, President of TRM Copy Centers, LLC, stated, “We will now be dedicated exclusively to supporting and improving our copy center locations throughout the United States . Additionally, we are very excited to be bringing operations including photocopier refurbishment and customer service back home to our corporate headquarters in Portland , Oregon . Our immediate goal is to focus on the core strengths that made us the world leader in convenience photocopying; providing superior customer service and support every day, and working side by side with our customers to improve their store traffic and revenue.”

As part of the acquisition from TRM Corporation, TRM Copy Centers, LLC acquired all of the trademarks and rights associated with the TRM Copy Centers brand. Immediate plans for the company include the return of all business operations to its headquarters in Portland , Oregon .

About TRM Corporation
TRM Corporation is a consumer services company that primarily provides convenience ATM services in high-traffic consumer environments. TRM’s ATM customer base is widespread, with retailers throughout the United States . TRM operates the second largest non-bank ATM network in the United States .

About TRM Copy Centers, LLC
TRM Copy Centers, LLC is a retail photocopy services company that provides convenience copying services in retail environments. TRM Copy Centers operates more than 17,000 copy centers throughout the United States , and supports some of the country’s largest and most successful retailers including grocery, convenience and drug store chains.

About Skyview Capital
Skyview Capital, LLC (www.skyviewcapital.com), a private investment firm headquartered in Beverly Hills , California which specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires.

FORWARD LOOKING STATEMENTS Statements made in this news release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, such as consumer demand for our services; access to capital; maintaining satisfactory relationships with our banking partners and other lenders including our vault cash suppliers; technological change; our ability to control costs and expenses; competition and our ability to successfully achieve growth in our US ATM business. Additional information on these factors, which could affect our financial results, is included in our SEC filings. Finally, there may be other factors not mentioned above or included in our SEC filings that could cause actual results to differ materially from those contained in any forward- looking statement. Undue reliance should not be placed on any forward-looking statement, which reflects management’s analysis only as of the date of the statement. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.

HickoryTech Sells Its Enterprise Solutions Subsidiary

Company Sells Stock in Subsidiary, Focuses on Unified Business Solutions

MANKATO, Minn., Dec. 29 /PRNewswire-FirstCall/ — HickoryTech Corporation (Nasdaq: HTCO – News) announced today that it has entered into a definitive agreement to sell its Enterprise Solutions subsidiary, based in Roseville, Minn., a suburb of St. Paul, to Skyview Capital, LLC, a privately held investment firm based in Los Angeles. Terms were not disclosed.

“The sale of Enterprise Solutions is an important step for HickoryTech, both strategically and financially,” said John Finke, president and chief executive officer. “This divestiture allows us to sharpen our focus on providing the highly-valued, integrated solutions for our business customers in the Minneapolis and St. Paul area.”

“In addition, the transaction will strengthen our balance sheet and eliminate operating losses as well as provide a tax benefit,” Finke said. “Our business plan remains focused on providing our customers with business solutions including IP Telephony, data network and system integration products and services through our Enventis business.”

HickoryTech will continue to sell Nortel products and related services through its Telecom Sector to its customers in southern Minnesota. These customers will experience no change in support as a result of the divestiture of Enterprise Solutions.

Charlie Oppenheimer, a Skyview Capital Vice-Chairman, stated, “We are excited to be able to acquire a telecommunications convergence solutions business with a longstanding reputation for service excellence, as well as one that possesses such a solid customer base.”

Post closing, Oppenheimer will work closely with the company’s management to ensure a seamless transition of the business to a fully autonomous entity. The Enterprise Solutions business will remain headquartered in the Twin Cities metro area.

This transaction is a sale of the stock in the Collins Communications subsidiary and includes approximately 70 employees who work at HickoryTech’s Enterprise Solutions business. The closing on this transaction is scheduled for Dec. 31, 2006. About Skyview Capital Skyview Capital, LLC ( http://www.skyviewcapital.com ), a private investment firm headquartered in Beverly Hills, Calif., specializes in the acquisition and continuous management of “systems-critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires.

About HickoryTech

HickoryTech Corporation is a diversified communications company headquartered in Mankato, Minn., with operations in Minnesota and Iowa and approximately 410 employees. In its 109th year of operation, HickoryTech offers a full array of telecommunications products and services to business and residential customers. The Telecom Sector offers local voice, long distance, Internet, Broadband services, Digital TV, and IP networking. The Enventis Telecom Sector provides IP-based voice and data services and network solutions on a state wide SONET-based network. The Information Solutions Sector develops telecom and carrier access billing solutions. To learn more about HickoryTech Corporation, visit the company’s Web site at http://www.HickoryTech.com.

Certain statements included in this press release that are not historical facts are “forward-looking statements.” Such forward-looking statements are based on current expectations, estimates and projections about the industry in which HickoryTech operates and management’s beliefs and assumptions. The forward-looking statements are subject to uncertainties. These statements are not guarantees of future performance and involve certain risks, uncertainties and probabilities. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The following factors, among others, could cause actual results to differ materially from these assumptions and expectations: the ability of HickoryTech to obtain financing and the ability to satisfy other closing conditions. Additional factors that could cause HickoryTech’s results to differ materially from those described in the forward-looking statements can be found in HickoryTech’s most recent Form 10-Q or Form 10-K filed with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Except as required by federal securities laws, HickoryTech undertakes no obligation to update any of its forward-looking statements for any reason.

TRM Announces Agreement to Sell US Business

PORTLAND, Ore., Dec. 13 /PRNewswire-FirstCall/ — TRM Corporation (Nasdaq: TRMM – News ) announced today that it has entered into a definitive agreement to sell its US Photocopier business to TRM Copy Centers, LLC, a limited liability company formed by Skyview Capital, LLC, a privately held investment firm. The purchase price is $9.2 million, subject to certain customary adjustments. Closing is expected to occur in January 2007. TRM and the purchaser have also entered into a Facilities Maintenance Agreement and Transition Services Agreement which provide for certain services to be provided by and for TRM during a transition period that is expected to be between 45 and 180 days. Over 100 employees will be transferred with the sale of the Photocopier business. Upon the sale of the US Photocopier business, TRM’s ongoing operations in the US will focus exclusively on the ATM business.

The net proceeds from this sale will be utilized to pay down debt obligations.

TRM also announced today that Danial Tierney, TRM’s Executive Vice President who has been running TRM’s global copier operations, will be leaving the Company at the end of the year to pursue other opportunities.

“The sale of the US Photocopier business is a significant part of our effort to simplify our business operations and to meet our immediate debt obligations. We continue to evaluate other potential strategic opportunities on a global basis,” says Jeff Brotman, TRM President and Chief Executive Officer.

“Additionally, I want to thank Dan Tierney for his long and devoted service to TRM and offer him best wishes for tremendous success in all of his future endeavors,” said Brotman.

Alex Soltani, Chairman and Chief Executive Officer of Skyview Capital, stated, “We are very pleased to add TRM’s US Photocopier business to our portfolio of operating companies. The company has created a unique niche, as it has been the clear market leader in its respective arena for more than 25 years. As this company maintains long-term relationships with national retailers, we are excited about the opportunity to expand upon its current footprint. Furthermore, the company’s management is strong and well experienced, and we are confident that they will be able to successfully operate this business on a standalone basis.”

TRM was advised by Allen & Company LLC with respect to the transaction.

About TRM Corporation

TRM Corporation is a global consumer services company that primarily provides convenience ATM services in high-traffic consumer environments. TRM’s ATM customer base is widespread, with retailers throughout the United States and with an extensive network of ATMs worldwide. TRM operates the second largest non-bank ATM network in the United States and the United Kingdom, as well as ATM locations in Germany.

About Skyview Capital

Skyview Capital, LLC ( www.skyviewcapital.com ), a private investment firm headquartered in Beverly Hills, Calif., specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires.

FORWARD LOOKING STATEMENTS

Statements made in this news release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, such as consumer demand for our services; access to capital; maintaining satisfactory relationships with our banking partners; technological change; our ability to control costs and expenses; competition and our ability to successfully implement our planned growth. Additional information on these factors, which could affect our financial results, is included in our SEC filings. Finally, there may be other factors not mentioned above or included in our SEC filings that could cause actual results to differ materially from those contained in any forward- looking statement. Undue reliance should not be placed on any forward-looking statement, which reflects management’s analysis only as of the date of the statement. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.

Private Equity Consortium Completes Purchase

Beverly Hills, CA.–July 26, 2006– Skyview Capital, LLC announced today its participation in the successful completion of the acquisition of Praxair’s aviation services unit (the “Company”), from Praxair Surface Technologies. Skyview Capital assisted in the acquisition process and is a minority equity investor in the transaction. Gridiron Capital, LLC led the transaction and was the lead investor.

The Company now named PAS Technologies, Inc. repairs a variety of commercial and military aviation engine and airframe components, and applies protective coatings to the repaired parts. By using innovative and proprietary high-technology repair processes, along with repair solutions licensed from OEMs, the Company saves its customers from having to purchase costly replacement parts. The broad range of components serviced includes gas turbine engines, critical airframe parts, gates and seats used in oil fields and industrial components used in other high-wear, high-heat, and corrosive environments. The Company employs about 520 people and serves about 250 aviation customers worldwide. Under the agreement, the new Company will acquire operating facilities in North Kansas City, Missouri; Tulsa, Oklahoma; Miramar, Florida; Hillsboro, Ohio; Phoenix, Arizona; and Singapore.

Skyview Capital, LLC ( www.skyviewcapital.com ), a private investment firm headquartered in Beverly Hills, California, specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its extensive operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires.

Gridiron Capital, LLC, headquartered in New Canaan, Conn., is a private equity investment firm focused on investing in and growing manufacturing, service and specialty consumer companies. The firm’s principals have a long and successful history of investing in and nurturing companies. The principals are successful private equity investors, business owners and operators. The Gridiron principals work closely with management teams to develop strategies for the portfolio companies and provide the necessary human and financial resources needed to execute business plans and build the company. More information on Gridiron is available on the Internet at www.gridironcapital.com.

Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2005 sales of $7.7 billion. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com .

Praxair to sell aviation services business

SAN FRANCISCO, April 4 (Reuters) – Industrial gases company Praxair Inc. (PX.N: Quote , Profile , Research ) said on Tuesday it will sell the aviation services division of unit Praxair Surface Technologies to a new company set up by private equity firm Gridiron Capital.

The terms of the transaction, which is expected to close in the second quarter, were not disclosed.

Gridiron Capital is lead investor in the acquisition and investment firm Skyview Capital is a minority participant.

Praxair said the aviation services business has 520 employees and 250 aviation customers. It repairs aviation engine and airframe components and applies protective coatings to the repaired parts.

Gridiron Capital Acquires Aviation-Repair Business

NEW CANAAN, Conn.–(BUSINESS WIRE)–April 4, 2006–Gridiron Capital, LLC and Praxair Inc., (NYSE: PX – News ) announced today they have entered into a definitive agreement for Praxair to sell the aviation services division of Praxair Surface Technologies, Inc. to a new corporation established by Gridiron Capital, as lead investor, and Skyview Capital, as a minority participant. The acquisition is expected to close in the second quarter of 2006. Terms of the transaction were not disclosed.

Praxair Aviation Services repairs a variety of commercial and military aviation engine and airframe components, and applies protective coatings to the repaired parts. The division employs about 520 people and serves about 250 aviation customers worldwide. Under the agreement, the new company will acquire operating facilities in North Kansas City, Mo.; Tulsa, Okla.; Miramar, Fla.; Hillsboro, Ohio and Phoenix, Ariz.

Praxair Aviation Services has been an innovator of industry-leading technical repair processes and is well positioned for further growth,” said Gridiron Capital’s managing partner, Eugene Conese, Jr. “They have listened to their customers and developed cost-effective solutions that save their customers capital investment in new equipment while providing extended life for critical flight parts. The company has carved out a strong niche as the leader in innovative high technology repairs, and has a solid base for introducing new repair designs and expanding market share. We are committed to supporting their strong performance by providing additional resources to support and grow the business. We look forward to partnering with the entire team as the company continues its leadership in this expanding marketplace.”

“We are excited about Gridiron Capital acquiring our business, which we believe will accelerate new product development and open the possibility of additional acquisitions,” said Jim Andrews, currently director of operations for Praxair Surface Technologies’ aviation repair division, who will continue on in that position with the new company.

Praxair Surface Technologies will continue to focus on high-performance coatings for engine parts in the OEM segment of the aviation market, where it has leading-edge technologies. In addition, the subsidiary will continue to provide high quality coatings applications for the printing, power generation, and other industrial markets.

Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2005 sales of $7.7 billion. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com .

Gridiron Capital, LLC, headquartered in New Canaan, Conn., is a private equity investment firm focused on investing in and growing manufacturing, service and specialty consumer companies. The firm’s principals have a long and successful history of investing in and nurturing companies. The principals are successful private equity investors, business owners and operators. The Gridiron principals work closely with management teams to develop strategies for the portfolio companies and provide the necessary human and financial resources needed to execute business plans and build the company. More information on Gridiron is available on the Internet at www.gridironcapital.com

Skyview Capital, LLC ( www.skyviewcapital.com ), a private investment firm headquartered in Beverly Hills, Calif., specializes in the acquisition and continuous management of “systems – critical” enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its extensive operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires.

NewSpring Mezzanine Capital assists in acquisition

NewSpring Mezzanine Capital, L.P. has provided $2,450,000 to assist Skyview Capital in the formation of Fastech Integrated Solutions, LLC for the purpose of acquiring the sales force automation business of Cotelligent, Inc.(OTC BB: CGZT). The business, formerly known as Fastech, Inc., was originally founded in 1982 and was acquired by Cotelligent in 1999. During the acquisition process, NewSpring Mezzanine Capital introduced Richard Hirsh to the transaction, who has joined to become Chief Executive Officer of Fastech Integrated Solutions, LLC. Mr. Hirsh was formerly CEO of the predecessor company, Fastech, Inc., and has tremendous experience and industry knowledge in this space.

Fastech has an established reputation as an innovative provider of mobile computing software solutions and hosting services to the Consumer Packaged Goods (CPG) industry. Fastech’s technology and services enable its clients to increase the efficiency and effectiveness of their sales and merchandising efforts. The Company leverages its fully staffed 24/7 operations center to provide high value, mission critical solutions to many of the CPG industry’s premier organizations.

Steven D. Hobman, General Partner at NewSpring Mezzanine Capital, L.P., states, “We are pleased to work with Skyview Capital in the acquisition of these assets. Furthermore, Rick has a proven track record as the CEO of this very business, and we are very excited about him leading the Company and the future growth potential of the business.”

About Fastech Integrated Solutions, LLC

Fastech (www.fastechis.com) delivers strategic solutions to sales and merchandising organizations in the Consumer Packaged Goods (CPG) market segment. Users of Fastech technology manage information with mobile computers which are synchronized with the Fastech operations center to manage and assess performance at the Retail and Key Account level. Headquartered in Broomall , PA , Fastech Integrated Solutions is privately held and profitable.

NewSpring Mezzanine Capital ( www.newspringcapital.com ) is a regionally-focused mezzanine debt fund that invests in information technology, business services, healthcare and specialty manufacturing and is part of the NewSpring Capital family of funds. NewSpring Capital, based in King of Prussia, PA, is a family of specific purpose private equity funds which, in addition to NewSpring Mezzanine Capital, includes NewSpring Ventures, L.P. , a venture capital fund providing equity capital to growth and expansion stage companies with a focus on information technology, business services and enabling technologies and Commerce Health Ventures, L.P. , a venture capital fund focused on intermediate-and late-stage life sciences, medical devices and healthcare companies.

Cotelligent, Inc. Sells IT Business

Company To Change Name To Watchit Media, Inc. and Pursue Future In Dynamic Narrowcasting Market

SAN FRANCISCO–(BUSINESS WIRE)–July 20, 2005–Cotelligent, Inc. (OTCBB: CGZT – News ) today announced it has sold its sales force automation software and services solutions business to Fastech Integrated Solutions, LLC, an affiliate of Beverly Hills based private investment firm, Skyview Capital, LLC. The transaction, which closed Friday July 15, 2005, provided Cotelligent with $2.3 million in cash at closing and the potential to earn up to an additional $1.45 million over the next three years.

“We are applying the proceeds from the sale of the sales force automation business to build our presence in the rapidly growing narrowcasting market under the Watchit Media, Inc. brand,” said James Lavelle, Cotelligent’s Chairman and CEO. “With a clear focus on Watchit’s future, we expect to expand our presence in gaming, hospitality, commercial and residential environments with high impact, television programming on Private Video Networks(TM) that match the unique interests and lifestyles of captive audiences.”

The divestiture required approval of Cotelligent’s stockholders. A special meeting of the stockholders was held on Wednesday July 13, 2005. 15,849,909 shares, or approximately 56%, of Cotelligent’s issued and outstanding shares of common stock, were voted at the special meeting with 15,538,079 shares, or approximately 98% of the shares voted at the meeting (approximately 54% of the shares outstanding and entitled to vote), voted in favor of the divestiture, 293,790 shares, or approximately 2% of the shares voted at the meeting (approximately 1% of the shares outstanding and entitled to vote), voted against the divestiture and 18,040 shares which abstained from voting.

About Watchit Media, Inc.

Watchit Media, Inc. is a leader in producing high-impact television programming on Private Video Networks(TM) that match the unique interests and lifestyles of captive audiences. Using digital photography, computer editing and Internet Protocol technology, Watchit produces, schedules and presents its video content via broadband to gaming and hospitality venues across the United States . Watchit’s brand marketing and proprietary television content reaches over 22,000,000 viewers per year.

Safe Harbor Statement

Except for historical information contained herein, the information contained in this news release includes forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from such statements. All forward-looking statements included in this release are based upon information available to Cotelligent, Inc. as of the date hereof, and Cotelligent, Inc. assumes no obligation to update any such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the Company’s expected financial performance, as well as the Company’s strategic and operational plans that could cause actual results to differ materially from such statements. Please refer to the discussion of risk factors and other factors included in the Company’s most recent Report on Form 10Q, Report on Form 10K for the year ended December 31, 2004 and other filings made with the Securities and Exchange Commission.

SEACOR Announces Closing of Sale of Era Aviation

NEW YORK–(BUSINESS WIRE)–July 19, 2005–SEACOR Holdings Inc. (NYSE: “CKH”) today announced the closing of the sale of all outstanding shares of capital stock of Era Aviation, Inc. to Era Aviation Investment Group, LLC. The consideration was $15 million in cash.

The business sold constituted the fixed wing operations that SEACOR had acquired from Rowan Companies, Inc. in January 2005. SEACOR is retaining Era’s helicopter operations in Alaska , the western United States and the Gulf of Mexico and its Fixed Base Operation in Anchorage .

SEACOR is a global provider of marine support and transportation service, primarily to the energy and chemical industries. SEACOR and its subsidiaries provide customers with a full suite of marine-related services including offshore services, U.S. coastwise shipping, inland river services, helicopter services, environmental services, and offshore and harbor towing services. SEACOR is uniquely focused on providing highly responsive local service, combined with the highest safety standards, innovative technology, modern efficient equipment, and dedicated, professional employees. For additional information, contact Timothy McKeand, Vice President, at (954) 524-4200 ext. 820 or visit SEACOR’s website at www.seacorholdings.com .

Investment group to purchase Era Aviation

Superior customer service, routes and prices to remain the same for Alaskans

ANCHORAGE (June 1, 2005) – Era Aviation Investment Group LLC (EAIG) announced today that it has entered into an agreement with SEACOR Holdings Inc. to acquire Alaska-based regional airline, Era Aviation, Inc. For the first time since 1991, all of the airline’s officers and management positions will be filled by long-time Alaskans, living in Alaska with extensive experience at Era. Paul Landis will serve as President and CEO. Marcia Davis will serve as Executive Vice President and General Counsel. EAIG is made up of a private group of investors primarily based on the U.S. West Coast.

Executives from both organizations expect to be able to close the transaction within the next 45 to 60 days. Under the agreement, EAIG will acquire all airline operations and will operate under the name Era Aviation, Inc. SEACOR will retain ownership of the Era Aviation Center which provides fixed based services to corporate aircraft and will continue to provide services under contract to the airline.

“We were excited about the opportunity to acquire an airline with such a great management team and employees. They have been very supportive throughout the sale process,” said Willie Charles Gault, one of the managers of EAIG. “One of the key factors in our decision to acquire the airline was the great reputation that Era Aviation has in the state of Alaska .”

“We are very excited about the transaction,” said Paul Landis. “EAIG shares our vision of what Era is and can be in the future, and we look forward to bringing Era into a new phase of growth and success.”

The acquisition will not affect current flights and customers can expect the same superior service during the transition.

“We look forwarded in working with SEACOR to make this transition as smooth as possible,” Landis said. “As always, safety, customer service, and employee satisfaction will remain our top priorities during and after the acquisition.”

About Era

Era Aviation’s team of professionals on the ground and in the air ensures the highest level of passenger satisfaction. Its training exceeds the standards set by the FAA and is enhanced with special training in areas such as customer relations. In addition to passenger service, Era provides an important air cargo link throughout the state. Era airline flights serve Southcentral and Western Alaska , using a combination of deHavilland Dash-8 and Twin Otter aircraft.